Forbes Honors 50 Power Businesswomen in Asia

SINGAPORE (April 7, 2016) – Forbes today recognizes 50 powerful businesswomen in Asia who are shaking things up across diverse industries in its fifth annual Asia’s Power Businesswomen list. The full list is available here as well as in the latest issue of Forbes Asia, available on newsstands now.

The list acknowledges the inroads women are making in the business world. To qualify, candidates have to be active in the upper echelons of business in Asia, wield significant power and have access to robust financial resources.

Women from 14 countries are represented on the list. China and Hong Kong dominate with 14 women, followed by India with eight, Thailand with five and Japan with four. Singapore, Australia, Indonesia and Vietnam each have three, while South Korea and the Philippines each have two. Macau, Taiwan and New Zealand have one each.

Despite China’s slowdown, a core group of this year’s listees is creating wealth in the country’s manufacturing sector. They include Ma Xiuhui, Cofounder and CEO of Opple Lighting, a company that started out making traditional bulbs and whose LED lighting now illuminates homes around the world, and Mou Jinxiang, Cofounder and Chairman of Lianhe Chemical Technology, which sells specialty chemicals to giants such as Dow Chemical and BASF. With a 30.5% stake in the company, Mou is also a member of the Forbes China Rich list with an estimated net worth of $960 million.

India also makes a strong showing. Nita Ambani, Director of Reliance Industries and Chairman of Reliance Foundation, debuts on this year’s list. She is also the wife of billionaire Mukesh Ambani. Her rising profile in the Reliance empire is unusual and earns her a spot in this year’s ranking. Nita Ambani also features on the cover of the April issue of Forbes Asia. Chanda Kochhar, a five-time listee, helms ICICI Bank, the country’s largest private-sector lender. In a bid to retain female staff, she recently launched iWork@home, a scheme that allows employees to work from home for a year. In addition, executives can take children under the age of 3 on business trips, at the bank’s expense.

There are a total of 27 newcomers on this year’s list. Among them are, Robina Gokongwei-Pe, President and COO of the Philippines’ Robinsons Retail Holdings; Somruedee Chaimongkol, CEO of Thailand’s Banpu; Cao Thi Ngoc Dung, Chairman and CEO of Vietnam’s Phu Nhuan Jewelry; Lorna Jane Clarkson, Founder and Chief Creative Officer of Australia’s Lorna Jane; and Kumiko Otsuka, President of Japan’s Otsuka Kagu.

About a quarter of the newcomers are from the tech sector. They include Jane Yan, Founder, Chairman and General Manager of China’s Venustech, an Internet security company that claims 80% of the country’s government and military business, as well as Zhou Qunfei, Founder, Chairman and General Manager of Lens Technology. Lens, one of the world’s largest makers of glass screens for mobile phones and tablets, went public in 2015, making Zhou, who retains 88% of the shares, the richest self-made woman in tech with an estimated net worth of $5.9 billion. Lucy Peng, with two multibillion-dollar companies under her belt, solidifies her position as one of tech’s most powerful executives. After cofounding e-commerce giant Alibaba, she set up its online financial services arm Ant, which is reportedly targeting a US$50 billion valuation in its latest financing round, which would make it one of the most valuable private companies ever.

In addition to the power 50 list, 12 women in their early twenties to mid-thirties have been singled out as “Women to Watch”. Among them are Nang Lang Kham, Executive Director of Myanmar’s KBZ Bank; Tan Hooi Ling, Cofounder and COO of Grab; and Sabrina Ho Chiu Yeng, Project Manager at the Palazzo Versace and Karl Lagerfeld Hotels in Macau. Lavanya Nalli, the first female Vice Chairman of India’s Nalli Group of Cos., and Anna Fang, Partner and CEO of ZhenFund, also made the watch list.

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